SCS Capital Management LLC Buys 18,601 Shares of iShares Gold Trust $IAU

SCS Capital Management LLC boosted its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 217.4% during the fourth quarter, Holdings Channel reports. The firm owned 27,159 shares of the exchange traded fund’s stock after purchasing an additional 18,601 shares during the quarter. SCS Capital Management LLC’s holdings in iShares Gold Trust were worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IAU. Brighton Jones LLC bought a new position in iShares Gold Trust during the fourth quarter valued at approximately $1,864,000. Bison Wealth LLC raised its position in iShares Gold Trust by 78.5% in the fourth quarter. Bison Wealth LLC now owns 16,778 shares of the exchange traded fund’s stock worth $831,000 after acquiring an additional 7,379 shares during the period. AQR Capital Management LLC raised its position in iShares Gold Trust by 47.0% in the first quarter. AQR Capital Management LLC now owns 26,936 shares of the exchange traded fund’s stock worth $1,588,000 after acquiring an additional 8,609 shares during the period. Glenview Trust co raised its position in iShares Gold Trust by 9.7% in the second quarter. Glenview Trust co now owns 12,384 shares of the exchange traded fund’s stock worth $772,000 after acquiring an additional 1,095 shares during the period. Finally, Main Street Financial Solutions LLC raised its position in iShares Gold Trust by 6.3% in the second quarter. Main Street Financial Solutions LLC now owns 36,817 shares of the exchange traded fund’s stock worth $2,296,000 after acquiring an additional 2,172 shares during the period. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Trading Down 1.4%

IAU opened at $84.27 on Tuesday. iShares Gold Trust has a 1-year low of $61.37 and a 1-year high of $104.40. The company has a market capitalization of $71.74 billion, a PE ratio of 5.53 and a beta of 0.16. The firm’s 50 day simple moving average is $87.07 and its two-hundred day simple moving average is $87.43.

iShares Gold Trust News Roundup

Here are the key news stories impacting iShares Gold Trust this week:

• Negative Sentiment: Spot gold slipped after the U.S. manufacturing PMI rose to 54 in May, reinforcing the view that the economy remains resilient and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar weighed on precious metals, making gold less attractive to investors in the near term. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats Amid Rising Treasury Yields
• Negative Sentiment: Reports that Iran-related geopolitical tensions were easing intermittently and that crude oil was jumping shifted some demand away from gold’s safe-haven trade. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Neutral Sentiment: Some commentary remains constructive on gold’s longer-term outlook because inflation, debt, and policy uncertainty could still support demand over time. Fed trapped between inflation and debt crisis, and gold wins either way – Sprott’s McIntyre

iShares Gold Trust Profile

iShares Gold Trust (the Trust) is to own gold transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist of gold held by the Trust’s custodian on behalf of the Trust. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor), which is an indirect subsidiary of BlackRock, Inc The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).